Career Choice For Becoming A Finance Manager

As you get higher within the ranks of a company, with more experience, the salary increases. The salary for a CFO is $115, 000 per year on average. (Summary;Salary). The more education one has, the higher the earning potential. The education requirements for an undergraduate generally include a degree in accounting or finance from a four year college with a good financial program. (Griffiths) Some work in the field for a time, and then go to business school to earn an MBA in Finance, while others go directly to earning an MBA. With going from a Bachelor's degree to an MBA, there is an increase in pay due to the greater education and there will be a position change from Junior Management to Senior Management (Griffiths). As with any upper level position that requires a graduate degree, there are many necessary skills. Socially, people who have this job must have a high degree of communication skills. They must have high attention to detail and very good self discipline. Self discipline is one of the most needed traits to be in the business finance vocation because of multiple tight deadlines. Generally, the working conditions for this type of job are in an office in a corporation. The largest employers in this cluster are Multi-National Corporations, with divisions in many different countries, and with revenues exceeding five billion dollars. As the

The financial mangers goal is acquisition, financing, and management of assets. The challenges are investment, financing, and asset management decisions.

Describe the duties of the financial manager in a business firm. Financial managers measure the firm's performance,

The financial manager establishes goals that will help to reach the organizations objectives, then creates steps in which they will use to achieve those goals.

According to Gitman, the goal of the firm, and therefore of all managers and employees, is to maximize the wealth of the owners for whom it is being operated (2009). The financial manager is responsible for acquiring sources of financing and allocate amongst competitive investment alternatives. The ultimate goal is to invest in projects yielding higher returns than amount of financing used to invest, so profits can be used satisfy claims and increase shareholder wealth. The issues facing financial managers are therefore to 1) increase sources of financing from investors and 2) increase shareholder wealth while maintaining a

“The decision to study finance opens doors to perhaps some of the widest ranges of jobs available, as every type of organization needs financial assistance and oversight, no matter what they do. There is no question that the recent financial crisis has changed the landscape of careers in finance, but finance remains among the most competitive and attractive of all career fields (International student)”. The purpose of this paper is to describe two (2) financial career options that an individual with a finance education might pursue and explain the value that such a position adds to a company. The two financial career options that a person with finance education might pursue are financial specialists and finance analysts.

A key role financial organisation plays for the duration of both planning and development stages, is to produce and relay information to management, shareholders, and stakeholders showing in monetary values the economic stability of business resources (Noll and Zimbalist, 1997). These responsibilities can be categorised as: overseeing financial risk, protecting the integrity of company finances, motivating managers to establish competitive value, attracting money into company projects, future proof planning and controlling performance improvement (Bonham and Langdon,

Financial management is important to the organization because it provides pertinent finance and accounting information to help managers accomplish the purpose of the organization. Financial accounting provides accounting information to external users. On the other hand, managerial accounting is more for managers (internal users) to use for things like planning, budgeting, etc. The definition of finance has changed over the years, but it’s used to ultimately evaluate previous decisions and make assessments for future decisions of the organization.

The benefits would be keeping track of the business operation and being able to fix issues or recognise successful employees.

Finance is the study of applying specific value to things we own, services we use and decisions we make. Financial management is the process for and the analysis of making financial decisions in the business context. The major subareas of finance are investments, financial management, financial institutions, market, and international finance. Risk is a potential future negative impact to value and or cash flow. It is often discussed in terms of probability of loss and the expected magnitude of the loss.

The finance department functions include keeping records of financial activity for example the sales made by the business and providing managers with information that they can use in decision making for example cost of making products. For McDonalds the finance department would have to keep track of how many sales they make per day and what kind of meal or burger makes the most money. For Chester Zoo the finance department would have to do the same which is keeping records of how many sales they make per day and how much profit they make.

I am hoping that the career as a financial planner is right for me from what I hear from everyone, it seems like a pretty good field to get into. During this paper I plan to find how I can make this career choice a reality. I am going to describe my career target. I will then proceed to make a description of requirements. Next I will talk about my current skill inventory and what the gaps are between the requirements and my skills. Lastly I will talk about my development plan on what I will do, why I will do it and when it should be done by.

This is the first pace in financial. It is the duty of financial manager to primarily recognize the goals of the company. The subsequently responsibility is to decide on the suitable steps that have to be applied achieve the goals of the company (Baker and Baker, 2007, p. 6).

Financial Management is a critical aspect of any business in order to achieve a sustainable and efficient cash flow. It is essential in maintaining the link between a business’s future financial goals (profit maximization) and the resources that it has in order to achieve its objectives. Businesses demand certain common goals that increase a bussiness's all around achievement, Some of which involve; growth amongst assests, An increase in efficiency in all areas of the business whether it be management or not. And the ability to meet short term and long term debts. Finacial management undertakes the responsibility to implement and acheive these goals for the business using a range of strategies shaped to meet the needs of the business and

Hence, the tasks involved in Financial Management include: Ø Analysing financial needs Ø Forecasting financial needs Ø Managing working capital Ø Planning capital structures Ø Organising financial operations Ø Monitoring and controlling finances etc. In fact raising funds and allocating funds for business are the two prime financial management tasks.